Tennessee sales tax revenue increases 9 percent in May
NASHVILLE, Tenn. (AP) – Tennessee Finance Commissioner Larry Martin says the state’s overall revenue collections in May were $50 million more than expected.
The tax collections reflect economic activity in April.
The state’s general fund tax collections in May were $48 million higher than projected.
Sales tax grew 9 percent in May, $20 million more than expected.
Franchise and excise taxes combined were $16 million more than the budgeted estimate.
